Corporate governance practices and regulations

May 29th, 2015
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Adelphi University
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Governance provides the structure through which corporations set and pursue their objectives, while reflecting the context of the social, regulatory and market environment. Governance is a mechanism for monitoring the actions, policies and decisions of corporations. Governance involves the alignment of interests among the stakeholders.

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Corporate governanceGovernance provides the structure through which corporations set and pursue their objectives, while reflecting the context of the social, regulatory and market environment. Governance is a mechanism for monitoring the actions, policies and decisions of corporations. Governance involves the alignment of interests among the stakeholders.There has been renewed interest in the corporate governance practices of modern corporations, particularly in relation to accountability, since the high-profile collapses of a number of large corporations during 2001-2002, most of which involved accounting fraud.Corporate scandalsof various forms have maintained public and political interest in the regulation of corporate governance. In the U.S., these includeEnron CorporationandMCI Inc.(formerly WorldCom). Their demise is associated with theU.S. federal governmentpassing theSarbanes-Oxley Actin 2002, intending to restore public confidence in corporate governance. Comparable failures in Australia (HIH,One.Tel) are associated with the eventual passage of theCLERP 9reforms. Similar corporate failures in other countries stimulated increased regulatory interest (e.g.,Parmalatin Italy).Other definitions."[4]In contemporary business corporations, the main external stakeholder groups are shareholders, debtholders, tradecreditors, suppliers, customers and communities affected by the corporation's activities. Internal stakeholders are theboard of directors,exe

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